Rumour has it the republicans have given Obama an offer to avert the fiscal cliff, the combination of deep, immediate spending cuts and tax increases that the CBO predicts would send the country into a new recession. The offer gives Obama something he cannot get without a deal–most notably, an extension of emergency unemployment benefits. The offer comes at a cost, however. In exchange, the republicans demand a small but painful cut in social security benefits.
Tag: USA
If You Believe in the Fiscal Cliff…
Lest we forget, the fiscal cliff is still coming–the dismal set of negative economic consequences that come from cutting government spending and raising taxes too fast in the face of a weak economic recovery. While 87% of the general public do not realise that the fiscal cliff is about preventing spending cuts rather than making them, regular readers (and those of you who read the linked pieces) know better. That’s all ground we have covered. However, that there is a particularly interesting implication of belief in the danger of the fiscal cliff that I have yet to discuss, and this I seek to remedy.
Territorial Disputes and the Future of Asia
It has been in and out of the corner of the western press’s eye the last few years. China has been flexing its muscle in Asia, attempting to press claims to territory, both land and sea, on its various borders. This has not gone unnoticed by China’s neighbours, who are quite furious with China over some of its more belligerent acts. The matter has been simmering, off and on, for some time. What I find most interesting about it, however, is how this dispute has set the nations of Asia against each other, dividing it between two sides, one pro-China, the other against.
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The TSA: Mass Murderers
I happened upon an old article by the sage of Brooklyn himself, Nate Silver, about what Silver calls the hidden costs of airport security. Silver references a study out of Cornell University that indicates that the there were significant consequences to the increase in airport security post-9/11 that went unreported and unnoticed. These consequences were not merely financial–people died.
How Big Government Discovered America
In the 15th century, when Christopher Columbus needed money to make his voyage to the Americas, he approached several heads of state. He came to the John II of Portugal, to the doges of Genoa and Venice, to Henry VIII in England, all of whom declined to fund his grandiose and zany project. Finally, he went to Ferdinand II and Isabella I of Spain. Their ministers, like the ministers in the previous nations, deemed the voyage impractical, too costly, too foolish. A bad investment. All the same, the Spanish monarchs decided to appoint Columbus Admiral of the Seas and dumped a pile of state investment upon him. And so, from the bosom of state largesse, the discovery of America began.
Benjamin Studebaker 